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May 18, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Utica, Business Loans > Manufacturers & Traders Trust Utica Business Loans > General Long-Distance Freight Trucking Loan | ||||
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SBA Lenders in Utica, New York
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Business Loan from Manufacturers & Traders Trust Given to General Long-Distance Freight Trucking CompanyManufacturers & Traders Trust and the SBA work together to get business loans for growing small businesses. Here's an example of how a New York entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Utica, New York was able to borrow $161,500 from Manufacturers & Traders Trust. The SBA made the loan possible by guaranteeing $121,125 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL LONG-DISTANCE FREIGHT TRUCKING SBA Loan Lender MANUFACTURERS & TRADERS TRUST The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 484121 - General Long-Distance Freight Trucking Loan Approval Date 8/31/2006 Loan Approval Gross Amount $161,500 Loan Approval from the SBA Of the total $161,500 loan amount, the SBA guaranteed $121,125. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 11 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $161,500 loan. It's not easy, but why not give getting an SBA loan of your own a try? About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: SBA 7A Banks for Utica, New York Loans
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